Nigeria’s domestic gas supply has surpassed 2 billion cubic feet per day (bcf/d), as the government works to increase supplies to power plants and industries.
Germany’s energy regulator on Thursday introduced new rules allowing electric vehicle owners to use their car batteries to supply electricity to their homes or feed power back into the grid.
The EU plans to maintain its moratorium on oil and gas exploration in the Arctic, despite opposition from Norway and industry representatives. The LDAC supports the ban, citing the Arctic’s ecological importance, climate pressures, and potential risks to fisheries and marine ecosystems.
The European Commission will maintain its ban on new Arctic oil and gas drilling in its revised Arctic strategy, despite pressure from Norway. Brussels says the moratorium is necessary to meet EU climate goals and protect the environment.
The EU may decide in October whether to maintain or drop its proposed ban on new Arctic oil and gas exploration. The decision reflects growing concerns over energy security, geopolitical competition and the Arctic’s strategic resources.
Consumers face a double whammy of rising oil prices and Treasury yields amid the U.S. war with Iran. Higher energy costs have erased tax-refund gains, while households tap savings to sustain spending.